- Pictured: Lakshmi Moorthy, Arval UK managing director.
LEASING brokers helped Arval UK increase the size of its leased fleet by 2.5% to 187,208 vehicles in 2022.
Having broken through the 100k barrier in 2021, Arval’s retail segment – which includes leasing brokers and dealers – hit 108,173 vehicles in 2022, despite supply constraints, with what Arval said were “award winning services”.
Electrification, unsurprisingly, played a significant part in the growth. Arval reports that it put 54,000 electrified vehicles on fleet during 2022 of which 29,000 were pure electric vehicles.
Our UK customers are forging a path in the electrification of our global fleet, achieving their own sustainable mobility goals and adding almost 29,000 zero-emission electric vehicles to the country’s roads in a year.
The future will see an increased drive to also help commercial vehicle customers to transition to the same zero-emission vehicles and a move to support all customers (and their employees) as the cost of living continues to rise, through tax efficient products like Ignition for salary sacrifice and used car leasing via Arval Re-Lease. Additionally, we will increase the range of products on offer, adding new mobility solutions and flexible subscriptions, while continuing to provide best in class services to fleets of all sizes, brokers, dealers and individual drivers.
The funder also said that its mid-term rental fleet grew by 58% offering increased flexibility for customers as well as providing an opportunity to evaluate electric cars and vans for fleet suitability.
Arval added it had also provided electric cargo bikes to corporate customers as it ramped up its mobility provision.
Globally, Arval reported its leased fleet grew by 8.3%, including the acquisition of the Dutch Terberg Business Lease Group and the transfer of Romania’s BCR operational leasing book to Arval Romania.
Todd Williams, Arval UK head of retail, on the broker success story
Our retail fleet is now a fundamental channel for our business. It has accelerated through challenging market conditions and now comprises more than 108,000 vehicles which are supported through brokers, dealers and white-label customers. We are proud to work alongside brokers to help achieve their own business goals and during 2023, we will increase our focus in the area with an experienced management team which are on target to automate our partner-customer journey, add to and enhance our products and digital tools to drive continued sustainable growth for all.
Broker News Newsletter 30 April 2024
Catch up on the latest leasing broker news in the 30 April 2024 Broker News newsletter
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Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.
